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<br />(II) If and so long as said note of even date and Ihis mstrumenl are held by the Secrelary of Housing and
<br />Urban Developmenl. a monthly charge lin Ii"" vf a mongage insurance premium} which shall be in an
<br />amount equal 10 one.twelfth (1/12) of (>ne.half (1/2) per centum of the average outstanding balance . ....~ ." ....'.......
<br />due on the note computed without laking into account delinquencIes or prepayments: ($) -~\.;)
<br />A sum equal to the ground rents. if any. nexl due, plus lhe premium'lhal will next become due and payable on uJ.'~
<br />polide! of fife am! o!h~!' h!!!!'rl !!!!~t!nce (;nv~flng the m~!'t~!~ed P'!operty. plus taxes and auessmenfs next due' \ _' -_ \
<br />on the mortgaged property (all as e!rimrll<<l by rhe Mongagee I less all sums already paid therefor divided by the 0 u
<br />number of months 10 elapse. before one month prlO' 10 the dale when such ground .ents. premiullls. laxes and 0
<br />assessmenlS will become dehnquenl. such sums 10 be "eld by Morlgagee in lrust to pay .aid ground rents, prt' c:n
<br />miurm. IlXes and special assessments: and
<br />All payments mentioned In Ih. two preceding subsecllon, of thIS paragraph and all payments to be made un<<r ~
<br />the note secu.ed hereby shall be added logether. and the aggregate amount thereof shall be paid by the Mortgagor to
<br />each month In a 'Ingle paymenl to be applied by th. MortgllCe to the following items in the order set forth:
<br />
<br />I
<br />
<br />(n monlh pnor 10 its due date the annual mortgage insurance premium In order 10 provide such holder
<br />wJlh funds to pay such premll,m 10 the Secretary of Housing and Urban Development pursuant to Ihe
<br />Nauonal HOUSing Act. as amended, and applicable Regulations Ihereunder; ur
<br />
<br />(b)
<br />
<br />(c)
<br />
<br />l"-
<br />O?
<br />o
<br />lr.)
<br />
<br />-'
<br />
<br />(I) premium charges under the conlract of insurance With the 50crttary of Housing and Urban Developmell1.
<br />o. monthly charge (in III:" of mOr1J16ge i"JUra"" premium I. "' the case may be:
<br />(1) ground rent.s... taxes, assessmenfS. fire and other hanrd insuran("t' premiums;
<br />I Ill) ,"I..est on lhe note "",,u.ed he.eby. and
<br />(IV) amomutlon of the pnnclpaJ of saId note,
<br />Any <!erteleocy in the amount of any ,uch a!ll!'ega'e "'llIllhly payment .hall. unless m.de good by .he Mort.
<br />panr prior to the due date \)f tht next ~uch p3y'nwnt, (HJ15.!ltutt' an ('vent of defauJl undu this morlgage~ The
<br />MortPBCC may collect a "late charge" no. 10 exceed (01" cent~ j4..1 f,,, .ach dollar ISII of each payment more
<br />than fifteen (15) d.y. '" arre.rs to cover the extr. expense Involved III handling delinquent payments.
<br />
<br />3, Th..1 if th.. t.ouI of the p..y....'nls made by the \lortgajtor under I~i of plltafl:raph t p",,,..ding sh.ll ..."tW!ii
<br />the ...."""1 of p.Y"'...ts ""wally made by th.. Mort,cllll"" fur l!mIlnd renlS. l.....~ and a"''''''''lIIt!llL~ or in!lUrance p.....
<br />1II10",... ... the c..... m.y be. ...ch excen. ,f Ihe 10M IS cur",n'. at rhe option of ,be Mortgall"". llhall be credited It)
<br />th.. \fortgag.... on sub""""'....! pay_t" to be ..ade b. th.. \l,,"jtallor. or r<'funded to th..\Io"g.gor. If, how",vur, the
<br />..onlhly pay.....llls made by ,he "","gaf!O' und.. (/.1 of paragraph 2 ~cetllOg ~ball nOl he sufficienl '0 pay /IfOOnd
<br />_I. laxesllllfl ..........5._t!> or in.......... preMiums. ....< th.. ..."" .... b... ..h.... lh.. 5...... ~hall btlco..... due and pay-
<br />ahl... tht>n the Mortg~ .hall pay 1(1 Ihe \Iortgll/l.... an~ .....unl n..ct"'5~ to ..ak" up th.. d..fici..ncy. on or bero",
<br />u... d.te ........ p.y"'....t of such ground "'nl!>, l....~. _...~."'.."t~ or m""ranc.. p",",ium. shoJI be due. 1f.1 any
<br />ti..e the \\orlll."" olI.lI'ender w .b.. \1o"Jall"'" In accord""c" ...,u. th~ pro'i..ons of u... not.. .""ured he",by.
<br />full paymenl of Ih.. entir~ i"deb!.,oo"" ,,,p,,,",,,,,..d U._by. lh., \lort~'I!"" shall. .n ('ompulin/l u... amoUilI of such
<br />in<leblednc:-u. credit to rbe """,,,,n' 01 tbe Mort",,,,,, "II pavmcn" mad.. uOOn the proV"IOOS 01 1,,1 of paragraph 2
<br />hereof wIt",h !hi' ~~ h... 001 <-'om.. "bhllat""lo p', If' <".. ,..,('rpto'y of 1I0u~inJ and l'rball o.,.dopment
<br />and any' ballUlC<! ,-.iniOjt '0 thl' fun.h' Ic('umulat..d undN Ih. "...'i..on, of fI,1 of parallNlph 2 h..r....e. If th......
<br />5ball be a def...1t u..... MY of the pfO"aionn IIf thiS mc>r41"l!~ "'"ulllllll in I public 'al.. of th.. pretlli...." C<l'''1't!lI
<br />hereb)., or if Ille Mo~.. acqui""" Ih.. PfflPC'rty oth......b.. ah.., delault. Ib.. \lor\j(.Il"" !'hall apply, U! th.. lime of
<br />u... c_."".\(,_...1 or ....ch p""'....dinJ". or .1 th.. It..... tl>.. prop..ny is nth......,,,.. 1",U..ed. lbe balan,'.. Lh.... retII.in.
<br />inll.n the funcl" lI(''''....ul.wd undc!. Ii,} 01 p.'iljf'"pit :! prt",'..olnll, U . .....d1l OJ"o'I Ih.. ....ount 01 prin"ipal th..n
<br />.......nit\~ unp.let under ~all; t1Uk'\ lllHl ..."hait p-rvp4:.rh adJulol at1~ pit'ftn-....-nh ..hlt'h .....hall hau.t bM-n madp undf:'t tal
<br />of P""'llNlph 2.
<br />4, That rM MortPl()t WIU pa) ground feflH-, !iiU\, .l,,\C"~,m('nt"1. lol.ittC' filc"\-, and othtl #(1\'crnmenuiJ or mUh!<;.lpal
<br />charleS. fint~. or impo$-uioru. for wtuch PH,"htOO na\ l\ln Ncn made:' hf'fC'inN(~lt(", a.nd U'l Jdauh thtttof the MortP8" may
<br />pay tbe same; and dUll the ~ortptOf "'-'III prQmpfh deh\<'e.r iht ~)ffi(.'.ulf rect.pt~ t~(-tft)r h1 1M M()fljA#'(e
<br />~. The: MOf'1.pJOf ..-iU p-II):- ~U taxc," ...-hKh may he .nteJ U$"WJ:1 I~ M-,lng3<<-t-e '\ tntcre-\t u, -'f.~W ftat e:\tale and tmprovt~
<br />ment,. and which m't he it:"'led upon lht\ m-UC1,gaj:t- or lh\- ;.l-d'ti \C';'\HtJ tltf(tu, (hut vni~- to Iht' (' ,-umt thilt ..u.;.h ,"- nol pro-hihft"
<br />ed by la..- and ofdy to the tkl("nl thaI \Ui.'h wiH nol mi~c .hl~ !\)-an U\UfitlU\1, but t'\dudInB an} locpmC' la', Stalt or Frder31
<br />impo$ed on Mortaatee-..nd ,,'iff tile the otftctal ft'Cttpt !>ho~tt"-h,('h _ray~nl ""4th tht MonJt-aJtt- t:rUfl "'lutiltKln o( (hI\ u....cJtr.
<br />ta-tina. 01 if tbe MortJaIOr i~ pl'ohwued l't) an} "II\\: no..- (}f ~re~ltef e IU;..tln.a (rom pay in, the v..'hoie or any portiOn of the a(ore~
<br />said t&HS. or upon lilt reDderin-, {If any (Ourl de-,"cC't pruhtbtlU\J tht- p>>ymc-nt n) the Mortp.or or In) su,h la\t:\. or .1 '!luch 12'"
<br />Of decree pro..s ,hat any amount "" paNi hy Ihe Mort...,.,.- ,hall t>< ,..d,le4 on the mortaa~. deb,. lh. Mortp~ee ,h.1I h8\e
<br />the nabt 10 lP"e ninety day, ...nllen n"n~e to lhe: ",.ne, c,1 Ihe m'''''m.4 prem....e.. ..qumna the paym.nl 01 lhe m..flBaae
<br />dtM, If 'Uch not",e t>< 81.tn. lhe sa'" dtbt .h,aJl t><,m,.,. due, payahl< and wllecuhk .t Ihe e.p,nl"," 01 .aid nlnelY day'
<br />6. TMt should he fail 10 pay any .um o. "'eep any c<,,"n "tit p"",oed 10' 10 lh" MOrlPlI". lhen ,t>< Monp..e. .1 It' op-
<br />tion. may pay or pc:rform lhe same, and all eApc:n4tlu....o made .hall he adMd 10 ,he prlOcipal ,um owma on lhe .b""oot..
<br />shall be: _urrel hereb)'. and ,hall hear ,"terest al.he tale ><t f""b m.he ,",4 nol.. unul paid
<br />7, That he hereby ...sips. !nID.fe.. .nd "'I' ,wrr to It>< MOflaaltr~, to be applied lowa.d the payment 01 Ihe nole and all
<br />SlIIIlI secured hereby in case of a default in It>< perfurmans:e <,I any (If the tern" and condlllOn, of IhlS MortPlle o. ,he ,..d
<br />note. all the rents. reveftllC. and income 10 be derivrel frlY.ll Ihe ,"",IP..4 prem..~' dunnB ,u~h ume a, tt>< mOrla.g~ indeh"d,
<br />ne..lhall remain unpaid: and rhe Moopaet .hall have pow~r 10 appo.nt any qenl 'Of aBentS .1 m., d..". ft" .he pur!X>.e of
<br />ITpairiaa s.aid premises. aod of rentina the umt and co-Ucctln, the rents. reVtnl,i~\ and tncomc. and H ma~- p-li) out ('t1 \aId In-
<br />comn all expense. of repairina SlId premise. and necessary commi"lOn. and ..pc:n.e, ,"cufTcd In r<nuOll an4 m.nalPRi the
<br />.....nd of collec'.... reo,als therefrom: the balance remalfling. ,I an;'. 10 be applied to..ard the dlScharg. 01 ",Ill mortaaae
<br />indebted""".
<br />8. That be wi!! keep IM- lmprove.mcnh noVt' uistina Of he"_ft.a,(Ie.r erectc.u on the rnortg.afed propeny. Iflsured ii' may ~
<br />requirrd frolll time to time by rhe MOr1pJee again.t Iou by 6re and other hau.d.. ca....ltie, .nd <<mllnBen".. '" ",ch
<br />........nt. and for such period. as may be required by rhe Mortgage<.nd will pay' promptly. ,,'hen due. an" premium, ,.n ,u,h
<br />~ provision for paymenl of wbich has nol heen m411e t><lelnt><lore .\11 ,"wranc. ,hall t>< earned to compa",e, '1'"
<br />proved by the Mortppe and the pOlicie. .nd renewal. lhen:ol .trall be held by .he: Murl/lltle< and ha.. alta,hed tt><rett> I""
<br />payable clause. ill fa"or of and in form JlCceptabie to ,he Mortg"lle<. In tvent olios> Mortll"lO' will g"e immed,... nollc. by
<br />Mail 10 the NOI'lllaPe. who may malle proof of Iou if nol made promptly by Murtl\lltor. and .aeh ,",Ulonce compon, con,
<br />ccmtd is hereby ."Ihoriucl.nd directed 10 rn.ake payment for .uch 10.. directly .0 the Morljlll,.e iostead of 10 tll< Mortpl1')f
<br />and the Norlpfee jointly, and. ,he msurat><:e proterel.. or any part thereo/. may I>< .pplied by lhe Murtme' "Ils "p....m <tlhe,
<br />10 !be rrcluction of lhe indebtedaeu her~ secured or 'Olhe re.toralion or repalf 01 the propeny' d.mlltl.d In <,,<nl of lureelo.
<br />_ of lhi. mOflppl or <>ther lfaIl.rt"f of till,tn rhe mO"Pied properfy in e.tin/tU"bmenl 01 the 'ndebtedne" ..(u,ed h.reby
<br />III ritht. tilloand interHI of rhe MorlllltlO" in and '0 any ;n.ura"", poliC.rslhen III fu,ce ,h.i1 \>I" tn Ih< pu."b..., '" !lfanl<<
<br />,. That.s alidiIkmaJ and collateral security fur lhe pay'menl of the note d..cnhed. and all '>Um' '" t><",m< du< uod<< lh"
<br />~, lhe MorlJllCOf hereby ..'lInno II>< Mor.,.,,<< all proAt" r...oue.. ro,allll>. rlShl> and t><nefih .,uu'"/! f(. ih.
<br />~ lJIldcf all)' and all oil and JIU luses 011 wd premi..... "'Ith the: right I" ("'(tv' and l<~..pt for the 'ilm. .nd .pp<,
<br />them 10 ~ ilMktbfe4!tn..' w..1I !>dote L\ after ddaul1 ifllM ,'Ondll...m, of tlti, mo.tp..."rW the M'OflsallC< mil d.m.nd, <u<
<br />for and ,"'o-vtt 1St)" "uta- paYmln-b ,.,rhen due and payable. but than 1-Wt he tequ,f!'(d 'ion t~~ d~' H,,\ ~1(,\,-_nmel1~ " t(. !nmt-!1<Jlr
<br />and h<<.omc null and void tmUn ,.Ie... 01 thi, mortltlJr<
<br />
<br />J
<br />
<br />F
<br />('()
<br />00
<br />
<br />HI ,to 9J~".]M HI. ~Jj
<br />
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